defi Hackers Cybersecurity security

Nomad token bridge drained of $190M in funds in security exploit

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cointelegraph.com

The Nomad token bridge appears to have experienced a security exploit that has allowed hackers to systematically drain the bridge’s funds over a long series of transactions.Nearly the entire $190.7 million in crypto has been removed from the bridge, with only $651.54 left remaining in the wallet, according to decentralized finance (DeFi) tracking platform DeFi Llama.Nomad bridge is getting drained, your funds might be at risk and might be able to still withdraw the remaining funds ⚠️ https://t.co/RgYmjSV9eBThe first suspicious transaction, which may have been the genesis of the ongoing exploit, came at 9:32pm UTC when someone managed to remove 100 Wrapped Bitcoin (WBTC) worth about $2.3 million tokens from the bridge.

Shortly after the community raised alarm bells over the potential exploit, the Nomad team confirmed at 11:35pm UTC that it was aware of the "incident involving the Nomad token bridge" adding it is "currently investigating the incident." The team did not immediately respond to a request for comment.We are aware of the incident involving the Nomad token bridge.

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